Phillips 66 (NYSE:PSX) Shares Sold by Peoples Financial Services CORP.

Peoples Financial Services CORP. lowered its stake in Phillips 66 (NYSE:PSX) by 25.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,075 shares of the oil and gas company’s stock after selling 1,365 shares during the quarter. Peoples Financial Services CORP.’s holdings in Phillips 66 were worth $536,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PSX. SageView Advisory Group LLC acquired a new position in shares of Phillips 66 during the fourth quarter worth about $396,000. Leo Wealth LLC acquired a new position in Phillips 66 during the 4th quarter worth approximately $233,000. HighPoint Advisor Group LLC purchased a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $705,000. Rise Advisors LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at $40,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in Phillips 66 by 8.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 6,081 shares of the oil and gas company’s stock valued at $993,000 after buying an additional 479 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.7 %

NYSE PSX traded up $0.95 during mid-day trading on Wednesday, reaching $132.35. 74,279 shares of the company’s stock traded hands, compared to its average volume of 2,687,469. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The company has a fifty day simple moving average of $133.29 and a 200-day simple moving average of $140.96. The company has a market cap of $56.11 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 5.48 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same quarter in the previous year, the firm posted $3.87 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities research analysts expect that Phillips 66 will post 8.19 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.48%. Phillips 66’s dividend payout ratio is currently 35.38%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PSX shares. Scotiabank lowered their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley dropped their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. reduced their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, Wolfe Research initiated coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $151.21.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.22% of the company’s stock.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.